Naspers and Prosus will remain a poor man’s Tencent, regardless of the impact a $5bn share buyback may have, say its detractors.

The mammoth programme is meant to assuage shareholder discontent over a glaring valuation gap between the two conjoined entities and their most valuable investment...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.

Questions or problems? Email or call 0860 52 52 00. Got a subscription voucher? Redeem it now